Grab will be hiring about 350 more employees here this year to help it deliver online financial services in South-east Asia.
The new hires will also develop the Singapore ride hailing operator’s digital banking business and support micro enterprises in their digital transformation.
Grab is looking at those with skills in artificial intelligence (AI), cyber security, data science, software engineering, as well as product management and design.
Deutsche Bank has introduced a modern payment system for its Thailand customers to support local collections via 2C2P, a payments platform provider in Southeast Asia.
“Recruiting success often depends on timing, as well as on the level of our recruitment budget,” explained HiBob’s VP R&D Ido Stern. “Our tactic was, and continues to be, not to wait until we have an open position. Instead, if we identify good talent, whether they reach out to us or we initiate contact with them, we will find a way to create a position.”
Spotting good talent is an incredibly important quality for any startup to nurture in order to secure its success during growth. Therefore, no opportunity should go amiss, even when you stop actively recruiting. HiBob joined CTech for its Employer Branding series to share how it tackles spotting – and attracting – top talent in Israel.
SINGAPORE – Users will now be able to top up their GrabPay, Liquid Pay and Singtel Dash e-wallets directly from their bank accounts and transfer funds between these e-wallets via instant fund transfer service PayNow.
Most e-wallets had typically required users to top up their funds using debit or credit cards, and transfers between e-wallets were not allowed.
Grab Financial is the top raise so far this year in the region with the $300mln series A investment round
THE Singapore Exchange (SGX) and its wholly owned subsidiary, Asian Gateway Investments (AGI), on Monday entered into an agreement to incorporate a joint venture (JV) company in Singapore with Trumid and Hillhouse Capital, to will launch Trumid’s electronic Asian bond trading platform, Trumid XT.
The JV company, XinTru, will operate Trumid XT, the trading platform aimed at enhancing liquidity and execution in the Asian bond market for global clients.
Grab has upsized their term loan to $2bln on the back of strong US demand.
Beam’s purple e-scooters will be rolling out on to the streets of Wellington next month as they sign a new three year contract. Congratulations Beam team
Forever changing the retail commerce space by making social content instantly shoppable, Mai has received another significant investment. The New York-based startup has received an additional $5 million of Series A+ funding led by Arbor Ventures, followed by Partech Ventures, Tekton Ventures, Voyager Capital and Bascom Ventures.
2C2P features as number 20 in the Straits Times’ fastest growing companies this year
As tabby pioneers the Buy Now Pay Later space in the Middle East, modernising the e-commerce experience, they have been recognised as one of the top 5 Fintech firms to watch in 2021 in the region. Congratulations to the tabby team.
Trumid is pleased to announce a new strategic relationship with Goldman Sachs & Co. LLC. Goldman will join Trumid’s Attributed Trading network and utilize Trumid’s innovative protocols to provide connectivity and liquidity directly to Goldman’s institutional clients. Goldman will join Trumid’s Trading Advisory Committee to provide long-term input into product development and market structure evolution.
Trumid has established a leadership position in bilateral dealer-to-client liquidity distribution and trading through its Attributed Trading protocol that was launched in 2019.
Forter founders Michael Reitblat and Liron Damri talk about cutting-edge online theft, and why they share their business results with the employees.
Ikea in the UAE is offering customers an installment payment plan for their purchases.
The furnishing retailer has teamed up with buy-now-pay-later platform Tabby, allowing customers to purchase products online or in Ikea stores and pay after 14 days or in installments over three months.
Congratulations Abra for being selected for the first CB Insights Blockchain 50 list 2020, in the Crypto Wallets category
Beam e-bikes will be available at numerous locations across the city. The Beam Apollo fleet of advanced electric bikes (e-bikes) was today launched in Auckland to expand Beam’s offerings and bring more transportation choice to Aucklanders.
Beam will deploy an initial fleet of 50 e-bikes and will grow to a full fleet of 400. The bikes will be strategically placed at approved parking locations across Auckland to maximise the city’s existing bike infrastructure.
“We are excited to grow our partnership with the community and are building on the success of our e-scooters to increase travel options and bike mode share for Auckland,” said Frederick Conquer Beam’s Operation Manager for Auckland.
Hibob is transforming the workplace experience and the way employers and employees manage benefits, time off, approvals, and other HR essentials.
Abra Inc. is bringing its clients a whole new cryptocurrency market that will allow them to compare prices and buy more than 600 separate types of cryptocurrency from single locations. The platform is designed to be global, meaning it can be accessed by traders and crypto fans from virtually all points of the world.
Forter, the leader in e-commerce fraud prevention, today announced that Nuvei, the global payment technology partner of thriving brands, will be joining its global network of merchants and banks to fight online fraud and approve more legitimate customers instantaneously.
Paidy has been recognized on the CB Insights Retail Tech 100 — List of Most Innovative B2B Retail Startups for 2020.
Russell Cummer offers an insight into the new Paidy 3-Pay product, enabling consumers to transact with three equal instalments, interest-free. It takes the stigma away from consumer credit and “takes the hassle out of shopping”.
2C2P gears up for expansion in Asia, with a new head office in Singapore, to serve and attract global clients across ecommerce, consumer tech, and retail sectors.
InCountry, the provider of solutions helping companies adopt SaaS products with global data residency and compliance, today announced its new regional headquarters in Rostov-On-Don, Russia, led by Director of Engineering, Aleksandar Romanov. The company has also achieved the Russian Federal Law on Personal Data (no.152-FZ).
2C2P has been among one of five firms that recently secured cross-border remittance licenses from the Central Bank of Myanmar (CBM) and is set to roll out inbound and outbound money transfer services in Myanmar “within the next three months,” 2C2P’s head of Myanmar operations Pyay Nyein told KrASIA.
While 2C2P has already received a cross-border remittance license from the Central Bank of Thailand in August last year, this new license in Myanmar will foster the money transfer between the two countries. “The first corridor we will serve is cross-border remittance between Myanmar and Thailand,” said Pyay Nyein.
Forter Ltd., which sells online fraud detection-software powered by artificial intelligence, said Thursday that it raised $125 million in venture capital. The deal brings its post-money valuation to just over $1.3 billion.
We are proud to announce that Stephanie Zepeda has been appointed Principal at Arbor Ventures. Steph has been an integral part of the success of the firm over the last 3 years, thank you for all your hard work and congratulations!
Heyday, a platform accelerating consumer product brands on digital marketplaces like Amazon, announced today it closed a $175M Series A funding round. The financing comes from General Catalyst, Khosla Ventures and Arbor Ventures, with participation from Amazon, eBay, PayPal and Magento executives. Heyday partners with entrepreneurs to acquire, launch and incubate brands, and is developing a marketplace-native technology, data and operations stack to empower those brands to thrive.
Today, Hibob – the transformative HR tech company that helps high-growth companies develop their employees and their culture – is unveiling a compensation management module for its HRIS platform, ‘bob’, a robust platform relied upon by thousands of modern, mid-sized and multinational businesses across the globe. The addition of this compensation functionality will afford many benefits to scaling businesses, namely in helping them evaluate, assess and allocate global compensation budgets smartly, efficiently and without error.
tabby, the Middle East’s leading Buy Now Pay Later platform, announced today that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa. Acceptance into this program allows tabby to more easily leverage the global reach, capabilities and security that Visa offers and to partner on a number of initiatives including launching Visa-card products to tabby’s growing consumer base and accelerating cashless adoption with consumers across tabby’s key markets.
Accenture has launched a new immersive engagement and investment program targeting emerging technology software startups to help fill strategic innovation gaps for the Global 2000. Called Project Spotlight, the exclusive Accenture Ventures program represents a new approach to engaging with the global software startup community.InCountry provided data residency for the project in a collaboration we are very proud to be connected with.
Fundbox – The Financial Services Platform For Small Businesses Sees Rapid Growth While Continuing To Outperform In The Market.
InCountry, the solution helping companies go global and adopt SaaS solutions with data localization, is partnering with Intertrust, a software company providing data rights management and trusted computing products and services to leading multinational corporations. The partnership brings a unified interface to deliver a security and compliance platform in 90+ countries.
Lufax, one of China’s biggest wealth management platforms, has filed to go public in the U.S.
The Shanghai-headquartered firm, which is backed by financial giant Ping An Group, plans to list on the New York Stock Exchange under the ticker “LU,” according to a filing with the Securities and Exchange Commission.
What began as 12 new employees in an empty office space has now become a booming hub of activity with 118 full-time members — and growing — said Sheila Monroe.
“We really blew away our growth projections,” said Monroe, general manager of collections for TrueAccord. “We’ll likely sign a lease for some additional office space in 2021.
The Simi Valley startup, which focuses on debt recovery, pledged to hire for 150 new jobs back in early 2019 at their Lenexa office, which opened in April that year. TrueAccord planned to bring on 50 employees by the end of 2019, increasing by 50 employees each year until ultimately hitting 150.
Within the 118 jobs in Lenexa, positions cross the spectrum of company roles, Monroe noted. Currently, there are 90 people in operations; 12 in client success; six in IT and engineering; four in human resources; four in finance; and two in legal and compliance.
“TrueAccord’s business model shows they wanted to do something transformational,” Schreck said in regard to the company’s platform of disrupting debt collection with AI, transparency and compassion. “We here in Lenexa have taken a transformational approach to development. So the values and culture TrueAccord has really matches well with what we do in Lenexa.”
Tabby once again recognised for their innovation, this time by Fintech Times as the first BNPL solution in the Middle East region.
InCountry recognised by City Metric as it continues to redefine data security amidst a shifting regulatory landscape.
Forter, the leader in e-commerce fraud prevention, today announced the release of its ninth Fraud Attack Index, delivering an in-depth insight into the impact of COVID-19 on online buyer behavior and e-commerce fraud trends. This edition of the Forter Fraud Attack Index encapsulates the most extensive research ever conducted in this field.
Michael Reitblat, CEO and Co-Founder of Forter, comments: “A rapid rise in new customer accounts, coupled with having to pivot quickly from brick-and-mortar to online sales channels, put unprecedented stress on merchants as they tried to perfect the e-commerce experience. It is clear from what we’ve seen that some retailers were more agile and prepared for this than others, quickly introducing new services such as curbside pickup and Buy Online, Pick-up In-Store, in a bid to retain new customers.
“To fully realize this new revenue potential, merchants need more accurate fraud prevention that can distinguish between these valuable new customers and fraudsters. Merchants can have a false decline rate between 5-7x higher for new customers – typical of legacy systems that do not have sufficient data on new account holders.”
Congratulations to Sheila Monroe, COO at TrueAccord, for her recognition as one of the top 25 Women in Fintech.
Lu International (Hong Kong) Limited, a subsidiary of Lufax Holding, announced the Company’s strategic alliance with Bosera Asset Management (International) Co., Limited. The Bosera Orient Sun Rise Greater China Bond Fund has made its first ever online launch via LU HK mobile application, making LU Hong Kong the first online retail sales channel for the fund. The fund was awarded ” Best Total Return – Greater China Fixed Income (1 Year)” in the Bloomberg Offshore China Fund Awards 2019. Going forward, LU Hong Kong aims at further enhancing investment experience for customers by introducing more selected quality fund products, enriching and diversifying the Hong Kong Dollar fund products portfolio provided by LU HK.
JERUSALEM (Reuters) – EverCompliant has raised $35 million in a private funding round led by Israeli venture capital firm Red Dot Capital Partners. New investor Maor Investments also participated, along with existing backers Joey Low, Viola Ventures, Arbor Ventures, and American Express Ventures, it said.
The company also said it had rebranded as EverC and that its funding round would meet growing demand from banks, credit card companies, payment processors, payment facilitators, online marketplaces and law enforcement agencies for online fraud products.
New York-based Trumid – a financial technology company bringing efficiency to credit trading through data, technology, and innovative products, has raised a further $200 million, the 8th largest global funding round in august 2020. Founded by Ronnie Mateo in 2014, Trumid has now raised a total of $402.3M and is backed by BlackRock, Dragoneer Investment Group, TPG, Arbor Ventures, and CreditEase Fintech Investment Fund.
Accenture plc recently announced that it has made a strategic investment in InCountry. The financial terms of the deal made through Accenture Ventures, the company’s corporate venture-capital arm, have been kept under wraps.
InCountry, the CA-based provider of data residency-as-a-service platform and consultancy, helps software-as-a-service companies make sure that their company and customer data is used in compliance with local regulations.
Accenture plans to use InCountry’s solution within its myNav cloud platform, as part of its sovereign cloud module. The company is now one of InCountry’s key channel partners.
InCountry, the provider of solutions helping companies go global and adopt SaaS solutions with data localization and compliance in mind, today announces its services are now operational across all 27 countries within the European Union (EU), in addition to Iceland, Liechtenstein and Norway in the European Economic Area (EEA).
Due to overwhelming demand following the invalidation of the EU-US Privacy Shield, InCountry quickly expanded its services to help the more than five thousand companies affected by the decision.
InCountry has raised an additional $18 million in funding. The company is now valued at over $150 million – more than double the valuation of its previous round a little over a year ago according to Founder and CEO Peter Yared.
Lufax, one of China’s largest online wealth management platforms backed by Ping An Insurance Group, said its unit has formed an alliance with Kasikornbank to set up an online wealth management platform in Thailand.
Funds and accounts managed by T. Rowe Price Group Inc. and BlackRock Inc. are among investors that contributed $200 million to Trumid Financial LLC in its latest fundraising round, more than doubling the bond trading platform’s valuation to over $1 billion since last May.
Lufax has filed a confidential prospectus to raise up to $3 billion in a U.S. initial public offering, joining a line of hopefuls looking to raise capital in the world’s largest economy before a new rule effectively shuts off the funding channel.
Take a look at insights from Fundbox CEO Prashant Fuloria on how firms can build sustainable growth and also emerging opportunities the pandemic has opened up for Fintechs
TrueAccord, leading digital debt collection solution, announced expansion to its leadership team – Laura Marino as Chief Product Officer and Charles Deutsch as General Manager of New Financial Services Unit
Fraudsters are setting up fake online businesses to fool real banks into processing payments for drugs and other illegal goods. Middlemen are aiding them – sometimes accidentally, sometimes not.
With online sales up 30%, fraudsters are taking advantage. Michael Reitblat, CEO of Forter, provided his insights how new shopping behaviors due to COVID-19 have created an ideal environment for fraud activity, and how rigid, rules based fraud systems can’t keep up.
Beam – micromobility firm that offers shared e-scooters, has secured over 45 Partners on its “Operation Booster” platform to help local businesses by driving foot traffic to local shops, restaurants, and cafes across Auckland.
With the aim of providing convenience and payment flexibility to customers, Al-Futtaim Group has partnered with tabby, a UAE-based startup, giving customers the option to buy now and pay later across a number of its brands.
TrueAccord released a report exploring how debt repayment and other consumer behaviors have changed throughout the coronavirus crisis.
The UAE based fintech, tabby, has launched its ‘buy now, pay later’ into Saudi Arabia after completing a recent round of funding.
Fundbox announced founder Eyal Shinar to become Executive Chairman, Prashant Fuloria promoted to new CEO. Melissa Guzy has joined Fundbox’s board of directors as an industry expert.
Four years in fintech and six million users later, Akulaku aims for a piece of Southeast Asia’s digital banking pie.
Dubai-based fintech Tabby that offers a buy now pay later solution to businesses in the United Arab Emirates has raised $7 million in a new round to fund its growth and launch its product in Saudi Arabia.
Worldpay announced its partnership with Forter to offer Fraud Freedom, a fraud prevention solution for crypto exchanges offering fiat-to-crypto.
DHL Express has partnered with Tabby, the first Buy Now Pay Later business in the GCC region, to provide DHL’s customers with payment solutions that address the region’s dependence on cash.
Beam, a Singapore-headquartered micromobility firm that offers shared e-scooters, has raised $26 million in a new financing round as it looks to expand its footprint in Korea, Australia, Malaysia, New Zealand and Taiwan.
A new survey from Hibob reveals what determines productivity and satisfaction: It is based on an employee’s position in a company, living situation, and gender.
Fundbox, which offers credit and invoice financing, said Tuesday (May 26) that it had received a fresh equity investment from MUFG Innovation Partners Co. Ltd., the corporate venture capital arm of Mitsubishi UFJ Financial Group.
As we continue to innovate globally, enterprises are digitizing new and existing businesses while expanding rapidly into the Middle East and North Africa (MENA) and the Gulf Cooperation Council (GCC) regions. As such, investments are projected to scale exponentially.
Forter announced the general availability of its Fraud Prevention Platform for Payment Service Providers (PSPs), enabling PSPs to manage fraud for their merchants.
Coronavirus has led to a very different working world than anything we have ever known. However, on the better part, the tech jobs are blooming as gloriously as May arrived, waiting to be picked. Many top companies are hiring new talent in the data science field with great salaries even amid this time of crisis.
Trumid has said total volume on its electronic corporate bond trading platform surged 500% in April, after setting new trade volume records every month so far this year.
Across industries, verticals and stages, more than 1,190 VC companies received funding in April 2020. According to PitchBook, these are the most-funded venture capital startups from April 2020:
Fundbox and other companies serving small businesses launched a campaign called #paytoday to encourage big companies and government agencies to accelerate their payments to small business vendors.
Congratulations Forter for being ranked in Calcalist’s list of Israel’s 50 most promising startups
Forter has created a weekly report to share insights on consumer behaviour and fraud trends during this unprecedented time and this week focuses on chargebacks, where they are increasing and what to watch out for.
Ping An Insurance Group has released its Q1 2020 financial results. As noted in the release, Lufax leveraged AI, during the pandemic, to “alleviate the manpower shortage and closely monitor the loan portfolio’s quality.”
LoanStreet Inc. has launched a new, specialized origination, servicing and reporting solution for financial institutions that plan to participate in the new Small Business Administration (SBA) Paycheck Protection Program (PPP) passed as part of the CARES Act.
Forter published its Forter Special Report on Impact of Coronavirus on Consumer and Fraudster Behaviour. The report provides merchants across industries with insight into trends seen within the $150 billion in transactions that Forter processes annually.
Beam has successfully achieved Climate Neutral Certified status by measuring its 2019 greenhouse gas emissions footprint, purchasing carbon credits to offset that footprint, and implementing plans to reduce emissions this year and beyond.
To capitalize on the growing demand to tackle data sovereignty issues in the Middle East, InCountry has opened its headquarters in the Middle East at Hub71 in Abu Dhabi.
Congratulations Paidy for being ranked in the FT’s top 500 high-growth companies in the Asia Pacific region
Fundbox and other companies serving small businesses have just launched a campaign called #paytoday to encourage big companies and government agencies to accelerate their payments to small business vendors.
Ping An Insurance (Group) Co of China Ltd obtained regulatory approval for a consumer finance vehicle to commence operations within six months. The establishment will speed up the transformation of Lufax Holding Ltd, as the commission requires qualified peer-to-peer lenders to convert into small loan companies or consumer finance companies.
In Japan, an economy of $4.971 trillion, cash on delivery still very much a way of life for consumers and merchants. What’s unusual about this preference, Paidy Founder and Executive Chairman Russell Cummer told Karen Webster, is that credit card penetration is high — the average Japanese consumer has 3.2 of them — yet their use in making online purchases is quite low.
To better understand loyalty program fraud and what solutions exist to address it, PaymentsJournal sat down with Daniel Shkedi, Senior Product Marketing Manager at Forter, and Tim Sloane, VP of Payments Innovation at Mercator Advisory Group. During the conversation, Shkedi and Sloane discussed the impact of this fraud vector, why companies struggle to catch it, and how Forter is working to stop loyalty program fraud.
Paidy Inc has raised additional capital from existing investor Itochu Corporation as part of its extended Series C round. The latest capital injection brings the total investment by Itochu Corporation in Paidy to $91 million.
Congratulations Akulaku for being named the 10 fastest growing fintechs in Indonesia by IDC.
TrueAccord, has created special software that allows financial institutions to negotiate debt payments with borrowers, is introducing “Engage,” a direct-to-consumer portal.
Congratulations 2C2P for being named 5 Fast Growing FinTechs in Singapore by IDC!
Forter, the leader in e-commerce fraud prevention, today announced the release of the Forter Special Report on the Impact of Coronavirus on Consumer and Fraudster Behavior. The report provides merchants across industries with insight into trends seen within the $150B in transactions that Forter processes annually.
Trumid has announced a record month of activity in March on Trumid Market Center, the company’s electronic bond trading platform. The Trumid platform has a variety of tools and features available to clients that have become increasingly valuable in current market conditions.
LoanStreet Inc. has launched a new, specialized origination, servicing and reporting solution for financial institutions that plan to participate in the new SBA Paycheck Protection Program passed as part of the CARES Act. Financial institutions of any size can streamline the process and ensure compliance with the new law using LoanStreet, the first fully integrated platform for efficiently sharing, managing and originating loans.
Good news for Korean SMEs: proposes a new breakthrough for entering Southeast Asian Markets
Vietmate Inc., a company entering the ICT-Culture Integration Center operated by the Ministry of Science and ICT and the National IT Industry Promotion Agency, revealed that they had signed an official 30 day contract with ‘Ralali’, the No.1 B2B e-commerce platform in Indonesia following around 1 year of business development negotiations.
A coalition of companies including Fundbox, launched an awareness campaign today called #paytoday to encourage big companies and government to pay small businesses on time.
When it comes to investing in opportunity zones, what’s the best way to determine the O-Zones with richer investment potential?
A recent whitepaper from Skyline AI, the New York City- and Tel Aviv-based artificial intelligence investment manager for commercial real estate, suggests answers.
Forter, the leader in e-commerce fraud prevention, announced the release of Forter Returns Abuse Protection. The new solution enables merchants to identify and block abusive returns practices, allowing merchants to confidently offer competitive policies their shoppers expect.
Financial technology companies are working to improve behind-the-scenes market functions, such as exchanging securities and making lending decisions, saying the use of new technologies could help markets recover faster than they did in past financial crises.
The rapid advancement of smart technologies, compounded with the changing demographics in the existing and potential customer base of wealth management services, makes a compelling case for both wealth managers and regulators to embrace the increasingly available and progressively sophisticated FinTech solutions, according to a new report commissioned by Lufax and authored by Boston Consulting Group (BCG).
Beam officially launched its e-scooter service in Bunbury on Thursday, with Deputy Mayor Jaysen Miguel taking the city’s first official ride.
The launch is part of a State-first six month trial of the scooters as a way to encourage a more convenient, affordable and sustainable way for residents and visitors to travel around Bunbury.
Forter, a leader in e-commerce fraud prevention recently published a blog that looked at loyalty programmes from a security point of view. Enterprise Times spoke to Aaron Begner about the company, the blog and the recently launched the Forter Loyalty Protection Program.
Beam is a Singaporean e-scooter sharing startup that was launched in July 2018 by CEO Alan Jiang and CTO Deb Gangopadhyay.
When they launched the e-scooters in Malaysia in early 2019, we wondered how they would avoid the fate that befell bike-sharing startups here.
EverCompliant, the pioneer of Electronic Money Laundering Detection and Prevention (also known as Transaction Laundering), announced a strategic investment from American Express Ventures, which joins existing investors Arbor Ventures, Carmel Ventures, StarFarm Ventures and Nyca Partners. EverCompliant will use the funds to ramp up its team and continue to optimize and develop new technology.
InCountry has been named to Fast Company’s annual list of the World’s Most Innovative Companies for 2020. The prestigious list honors businesses across the globe that are making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. Overall, this year’s MIC list features 434 businesses from 39 countries.
Skyline AI and AION Partners, announced the closing of an AI-infused real estate deal in the Mid-Atlantic region. This marks Skyline AI and AION Partners’ second deal together – the first was in 2018 with the acquisition of two residential building complexes in Greater Philadelphia.
San Francisco, CA, March 05, 2020 (GLOBE NEWSWIRE) — Today Fundbox, a leader in credit and net terms payment services for small businesses, was presented with the 2020 Gold Stevie Award for Customer Service Success – Financial Service Industries, at the 14th annual Stevie Awards for Sales & Customer Service.
NEW YORK, Feb. 19, 2020 /PRNewswire-PRWeb/ — Trumid Financial, the New York-based financial technology company and electronic trading platform for corporate bonds, today announced a strategic partnership with Barclays. Barclays will join Trumid’s Trading Advisory Committee to collaborate on trading and workflow protocols and future product development.
Feb.18 — On Bloomberg Equality today, Melissa Guzy, co-founder and managing partner at Arbor Ventures, discusses fintech, funding and female representation in the venture capital industry. She speaks with Bloomberg Live’s Mallika Kapur.
With Wall Street undergoing enormous change, the hottest fintechs in finance are using novel software and data to reinvent how firms manage their risks and trade assets. Some are even beginning to open opaque private markets to global investors.
SAN FRANCISCO — InCountry, the data residency-as-a-service platform, today announced the launch of a first-of-its-kind product offering that will handle, process and store health, finance and payment data in more than 60 countries. In order to help businesses expand globally amidst country-specific data regulations within these verticals, InCountry prioritized demonstrated compliance with three security standards needed to safeguard user information beyond profile data in less than one year from launch.
Trumid, a financial technology company bringing trading efficiency and market intelligence to credit professionals, has announced a record month of activity in January on Trumid Market Center, the company’s electronic bond trading platform. Market Center users can trade anonymously or on a disclosed dealer-to-client basis via Trumid’s Attributed Trading protocol. Both protocols had record trading volumes and user participation in January.
NEW YORK–(BUSINESS WIRE)–Forter, the leader in e-commerce fraud prevention, today announced availability of the Forter Loyalty Program Protection solution to protect high value rewards programs from fraud and abuse, enabling merchants to offer enhanced programs with the best possible customer experience.
Mobile financial services provider Wave Money and payments platform 2C2P on Tuesday signed an MoU to deliver online payment services for WavePay users nationwide. The move marks Wave Money’s expansion into digital payments for the airline, hotels and retail industry. WavePay customers can now make direct purchase for goods and services with their WavePay app. “Our tie-up with 2C2P means that millions of WavePay users will benefit from greater access to… digital financial services,” Brad Jones, CEO of Wave Money, said in a statement.
Financial technology startup Fundbox Inc. hired a former investment banker to be its first finance chief as the seven-year old company prepares for a potential initial public offering.
Marten Abrahamsen joined Fundbox in early January from The Chernin Group LLC, a Los-Angeles-based investment firm, where he was a partner since 2018.
London, UK. – 7th January, 2020 – Forter was named the leader in e-commerce Fraud Prevention and rated the highest for Innovation in the 2020 Frost Radar in the U.S. e-commerce Fraud Prevention Market. Compiled by leading analyst firm Frost & Sullivan, the report highlights Forter’s real-time fraud protection technology that protects merchants while delivering an optimal experience at all consumer touchpoints.
Private lending institution PT Bank Yudha Bhakti Tbk (BYB) has revealed that its partnership with Fintech solution provider Akulaku has enhanced the bank’s digital transformation strategy by delivering several key outcomes or results.
The Facebooks and Apples of the world may serve well-carded areas like the US and the eurozone with relative ease, but in Southeast Asia – or emerging markets for that matter – where multinationals might find they need a little help, especially in the sphere of payment acceptance.
PAYMENTS platform provider 2C2P has raised US$52 million in new funding from investors including IFC, Cento Ventures and Arbor Ventures, it said in a media statement on Monday.
Tabby has raised $2 million in seed funding to offer instant credit to consumers through its banking partners for shopping at online and offline retailers, it announced today in a statement to MENAbytes.
PayPal Ventures, Soros Capital Management, JS Capital Management, Tybourne Capital Management, and an undisclosed company invested in Paidy as part of the firm’s US$83 million series C round, according to the statement.
Paidy, a Japanese instant credit startup, has raised $83 million in a Series C extension joined by PayPal and secured an additional $60 million in debt financing.
Sept 24 (Reuters) – Fundbox, a San Francisco-based startup focused on technology for business-to-business payments, on Tuesday said it raised $176 million in equity and secured a $150 million credit line it can use to lend to businesses.
Over the last decade as an Asia-based VC investor, I have spent considerable time working with portfolio companies on building partnerships and strategic relationships across the region.
The growth capital from the transaction will be used to expand Trumid’s US corporate bond business and for protocol and product expansion.
Hillhouse’s strategic partnership further supports Trumid’s existing relationship with Singapore Exchange (SGX) in Asia. Existing Trumid investors SGX and Arbor Ventures will join Hillhouse in the round, with the total investment reaching approximately $60 million.
Forter launches its PSD2-compliant merchant offering, Forter PSD2 Solution for Merchants. The comprehensive, payment processor-agnostic solution enables merchants to dynamically route customers to the path of least friction required, prevent all types of fraud and violations of business policies, and optimise the customer’s payment experience – all while meeting full PSD2 compliance.
The New York-based HR tech platform Hibob announces former ADP leader Keren Hillman as U.S. Vice President of Sales and Operations. Hillman brings two decades of experience to Hibob where she will lead the company’s newly established New York office and spearhead U.S. expansion.
FinTech Breakthrough Recognizes Standout FinTech Companies and Solutions in 2019 Awards Program.
“Breaking into the financial services industry was nearly impossible just a few years ago, but as the FinTech industry has now delivered proven tangible benefits for consumers and businesses, we are experiencing an impressive “breakthrough” phase of FinTech industry adoption,” said James Johnson, Managing Director, FinTech Breakthrough. “
In its various forms, AI today allows for much higher processing and automation than ever before – and is currently the best available way to harness big data. It will eventually carry out high-level predictive analytics with high accuracy – making sense of enormous amounts of relevant data and even improving our ability to predict the future.
“At Fundbox, we have built our entire business experience around the needs of our customers, be they SMEs, B2B platforms, vendors or services like Synchrony,” said Fundbox CEO and Founder Eyal Shinar in a statement.
Synchrony Connect Senior Vice President Karen Nash Mirkin said the ability for merchant customers to seek a credit line “can make a huge difference in helping drive growth.”
globaliD co-founder and CEO Greg Kidd included in One World Identity’s (OWI) 2019 list of Top 100 Influencers in Identity. OWI Top 100 Influencers “represents pioneers, innovators and visionaries who are working to advance inclusion, improve products and services, keep personal data safe, and protect privacy.”
Melissa Guzy: “We want to see dedication and perseverance in founders, and that they are passionate about the business and will have the desire and ability to get through difficult times. Startups are hard, and an entrepreneur needs to understand that the roadblocks that they likely will encounter must be tackled. Of course, I care about the market opportunity and the technology, but I care more about working with a great dedicated founder who wants to build a great company.”
Hibob, a Tel Aviv provider of cloud-based HR and benefits management software, today announced that it has raised $20 million in an extension of its series A round. The money comes from a raft of investors, including Bessemer Venture Partners, Battery Ventures, Eight Roads Ventures, Arbor Ventures, and Presidio Ventures.
CEO and cofounder Ronni Zehavi says the cash infusion will accelerate Hibob’s expansion into the U.S. and Europe — a move that’s already underway. The startup has grown 460 percent year-over-year since 2015, he says, and counts among its “hundreds” of customers companies like Monzo, eToro, Happy Socks, IronSource, Receipt Bank, Fiverr, and Karmarama
As electronic commerce grows — by 15% in 2018 – fraud grows too, because that’s where the money is, as Willie Sutton explained years ago in why he robbed banks.
Forter, which develops an evolving array of sophisticated fraud-prevention tools, found in its bi-annual report that fraud attacks varied by industry, by merchant, merchandise and customers. E-commerce growth has been accompanied by growth in online fraud in new areas, like food delivery.
Founded by a group of ex-Baidu executives, Silot’s patented system assists banks in organizing their previously siloed data. The startup’s platform then feeds the bank’s data as well as its policies and rules into a decision engine – a “brain for banks” if you will – that makes decisions on behalf of bank staff.
In the case of Krungsri Bank – Thailand’s fifth-largest bank – Silot’s pilot test helped the organization detect transaction fraud and money laundering, block fraudulent transactions, as well as automate its merchant onboarding and verification processes. In addition, Silot also provided a QR code payments solution to Krungsri, which it, in turn, offers to merchants.
Berkshire Hathaway GUARD Insurance Companies announced today a new partnership with Planck, an artificial intelligence (AI) driven data platform for commercial insurance. This partnership will allow GUARD to expedite its digital underwriting initiatives for its small and medium business segment.
Sy Foguel – CEO and President at Berkshire Hathaway GUARD Insurance Companies “In the next few months, the time from submission to quote is going to be dramatically reduced.”
Those smaller B2B operators “are not in the best position to be accepting and taking credit risks,” Sebastian Rymarz, chief business officer for Fundbox, told Karen Webster in a recent interview with PYMNTS.
“The risk can be devastating, especially if you have a lot of concentration” in one area, he said, riffing off the Munchery example.
Guy Zipori, CEO and Co-Founder of Skyline AI, an artificial intelligence asset manager for commercial real estate, won the Rising Star Award at Real Estate Finance & Investment Magazine’s Commercial Real Estate 20 Awards 2019. The Commercial Real Estate 20 awards honors achievement among investment companies and private equity funds focusing on middle market transactions as well as the industry’s rising stars. This latest honor comes just weeks after Skyline AI was named to CB Insights’ AI 100 List of Most Innovative Artificial Intelligence Startups.
The chief executive of Abra, a Bitcoin-based app that lets people buy and sell currencies, virtual coins, and Nasdaq-listed stocks, expects corporate adaptions of the technology behind cryptocurrency to amount to little, if anything. As one of the earliest employees at Netscape, a dot-com era poster-child and creator of the once-dominant, namesake web browser, Barhydt said he witnessed the flameout of an analogous fad during the Internet’s early years.
The combination of world-class technological educational institutes and large investments into the research and development of cybersecurity, deep technology, and infrastructure have made it a hotspot for innovation in new tech. Now around 15 percent of all venture capital funding in cybersecurity goes to Israeli tech companies.
Together with payments tech company Adyen, we set out in search of the most promising new startups based on their performance, growth, and potential. The top-5 from each country will join the Tech5, a community of the hottest young tech companies in Europe and Israel.
Payments losses are a fact of life for eCommerce businesses because of chargebacks, ACH returns, and unreturned products. Unlike lending businesses who have to accept a large percentage of losses as part of their business model, many startups treat payments losses as a nuisance that doesn’t require much attention. This can lead to spikes in losses because of unchecked customer behavior. It’s not only risky for your merchant account or ACH credentials but is a viable threat to your bottom line and can add up quickly. Even leaders in online payments and retail, such as PayPal, use internal and external collections to augment their underwriting, representation, and loss mitigation activities
TrueAccord announced today a new 12,000-square-foot shared services operation in Lenexa, pledging 150 new jobs as part of the $1.34 million TrueAccord investment. Selecting the Kansas City metro for the project followed a thorough nationwide search, said Sheila Monroe, chief operating officer of TrueAccord, an automated debt recovery platform that bridges the gap between the creditor and those in debt.
The expansion and new team members are expected to help further the TrueAccord mission to modernize and improve the debt recovery marketplace, Monroe added.
Forter, the leader in e-commerce fraud prevention that automatically protects merchants during each moment a consumer interacts with their brand online, today announced a new agreement with Priceline that will help the online travel agency guard against fraud, increase transaction approval rates and improve the customer checkout experience.
Abra will open its new features to roughly 155 different countries, which is breaking new ground in terms of providing equity investment opportunity to a global audience, according to my interview with Abra’s CEO Bill Barhydt. Customers will be able to use cryptocurrencies or fiat currencies for these investment products.
“It’s a great honor to be recognized amongst the CB Insights AI 100, a prestigious list of AI companies disrupting markets, industries and economies around the world,” said Guy Zipori, CEO and Co-Founder of Skyline AI. “When it comes to commercial real estate, the market is ripe for our technology and we look forward to continuously increasing our impact through partnerships with leading players in the industry.”
The company’s machine learning software considers everything from the location and browsing history of a would-be buyer to the type of device he’s using to decide whether to reject an online credit card purchase as fraudulent. In 2018, Forter tripled its customer base, passing 100 retailers, including Nordstrom.
Extending Fundbox Pay into checkout mirrors the B2C commerce experience that offers access to capital, which can cement the deal for sellers and offer terms for buyers tailored to their individual risk profiles. Rymarz explained that the concept behind Fundbox Pay (and now its extended availability) recognizes that — for retailers, restaurants or consumers — credit card networks exist to serve as a bridge to commerce.
Artificial intelligence is infusing virtually every sector of the modern economy, and real estate is no exception. From machine learning algorithms that match homebuyers to listings to chatbots attending to clients’ needs, the real estate industry is buying into technological solutions that aim to make the industry more efficient, profitable and service-oriented.
The transformative HR platform HiBob has signed a strategic partnership with Europe’s fastest growing employee experience platform, Perkbox, to deliver an unrivaled engagement and well-being proposition to its clients via its benefits solution.
globaliD, a leading digital identity service provider, and OneVisage, the inventor of 3D facial biometry and 3D graphical authentication running on standard mobile devices, announced today a partnership to integrate OneVisage’s Premier Face™ 3D facial biometry technology in globaliD’s digital identity offering.
“The combination of rich, granular, up-to-date, data in the open web with AI and machine learning capabilities enables insurers to change the game”
Elad Tsur, CEO & Co-founder
Our distinguished selection panel, comprising CEOs, CIOs, CFOs, industry analysts and the editorial board of CIOReview narrowed the 20 Most Promising Insurance Technology Solution Providers that exhibit competence in delivering competent comprehensive insurance technology innovations.
Southeast Asia is about to see an overhaul of its financial system. Which company in the region is most likely to challenge the status quo? An imperfect way to judge would be the amount of money they have raised. Using Tech in Asia’s data, we’ve generated this constantly updated list of 20 fintech companies in Southeast Asia who have raised the most money from investors.
Speaking at Calcalist’s annual Mind the Data conference Or Hiltch said Skyline AI’s algorithms can assess potential revenue and the best time to buy, sell, or remodel a certain property
Planck Resolution, an artificial intelligence (AI) based InsurTech start-up, has appointed Leandro DalleMule as General Manager for North America.
The Recruitment & Employment Confederation (REC), the professional body for the UK recruitment industry, has unveiled people platform HiBob – the transformative HR management tool – as its latest business partner.
I’ve always been a loner, avoiding crowds as much as possible, but last Friday I found myself in the company of 500 million people.
SAN FRANCISCO, Nov. 28, 2018 /PRNewswire/ — TrueAccord, the first-of-its-kind tech platform that transforms the antiquated debt recovery industry, announced today that financial industry veteran Sheila Monroe has been named Chief Operating Officer.
TEL AVIV (Reuters) – German asset manager DWS Group (DE:DWSG) said on Tuesday it has entered into a strategic partnership with and become a minority shareholder in Skyline AI, a real estate asset management technology company.
Silot, an Intelligent Banking solution provider, brought home the trophy of 2018 Overall Winner. Besides winning the title, Silot also won a spot-on Visa Everywhere Initiative global accelerator program. It is a 10-week immersive program designed for startups to advance from 1.0 to enterprise level by receiving access to Visa’s payments infrastructure, integration with Visa’s APIs and mentorship from Visa senior leaders.
HiBob, the transformative HR platform that is moving the industry from task-based functionality to people-inspired engagement, has appointed Joel Farrow as managing director.
If you’re like us, chances are you hear the word “Bitcoin” and your eyes glaze over a little. But as with much of the finance world—which deliberately uses obfuscating language—you just have to chip away at a few of the core ideas and suddenly you find you’re not as out of the game as you thought.
Since the explosion of ICOs last year, the cryptocurrency market has undergone some noticeable changes.
Lufax, one of China’s leading online wealth management groups has said it is working towards moving its entire peer-to-peer (P2P) lending portfolio, valued at “tens of billions US dollars”, onto the blockchain platform.
Southeast Asian fintech startup Akulaku has secured a $70-million Series C funding round led by Chinese financial technology company FinUp.
Yoyo Wallet, dubbed Europe’s fastest-growing mobile payments loyalty app, secured a $30 million partnership agreement from Digital ID creator and investment firm Hard Yaka, investors in Coinbase, Ripple and Dwolla.
Melissa Guzy on the Asian working environment, how the FinTech sector is changing, and why gender diversity is better in Asia.
Today’s insights show comes to you live from Money20/20 in Las Vegas at the Leadership Loft. Sarah Kocianski is moderating the debate between Team USA and Team ROW. Sam Maule’s representing 11:FS in Team USA and Simon Taylor’s doing the same on Team ROW.
A Singapore-based startup called Beam announced today that it has raised US$6.4 million in a seed funding round led by Sequoia India, Founders Fund, Zhenfund, and Class 5 Global.
The financial services industry is being transformed by insurgent startups. From capital markets to insurance and digital banking to wealth management, the Fintech 250 are among the most promising of these companies globally.
(Bloomberg) — Singapore’s sidewalks are about to get a lot more crowded. Beam, co-founded by the former Asian chief for Chinese bike-sharing giant Ofo Inc., has raised $6.4 million from investors including Sequoia India to deploy its electric scooters around the island nation.
Online lenders arrived on scene at the perfect time for Silicon Valley. Coming out of the 2008 financial crisis, banks – the traditional lenders – were slow to understand the way that consumers wanted to access credit and were (understandably) reluctant to take on risk.
Forter, a company that uses machine learning to detect and prevent fraud in online retail transactions, announced today that it has raised $50 million in a series D funding round led by March Capital Partners, bringing its total financing to $100 million.
A great customer experience is at the heart of customer loyalty and support – and we all want OUR customers to have that “Wow!” experience.
Over the last decade as an Asia-based VC investor, I have spent considerable time working with portfolio companies on building partnerships and strategic relationships across the region.
Launched in 2014, Trumid matches buyers and sellers in the bond market at a time when some investors are complaining about reduced liquidity.
To borrowers who owe money, it’s a living nightmare. To Ohad Samet, cofounder and CEO of TrueAccord, a San Francisco debt-collection startup that has raised nearly $30 million, it’s a software problem.
Residents in the Single Euro Payments Area (SEPA), as well as additional nations in the European Union, can now transfer euros or other national currencies directly to Abra, which in turn deposits bitcoin into users’ digital wallets.
Paidy is Japan’s first instantly issued post-pay credit service for eCommerce consumers. In addition, the two companies are partnering on new digital payment experiences that will give Japanese consumers more options when buying online and in-store.
Planck Resolution, which provides artificial intelligence-based data platforms for commercial insurance companies, raised $12M in a Round A. The round was led by Arbor Ventures with a participation of Viola Fintech and Eight Roads.
Skyline was founded in 2017 and has offices in New York, in addition to Tel Aviv. In March, the company raised $3 million from Sequoia, and it’s brought in $21 million from NYCA Partners, Arbor Ventures, and iAngels, to date.
Arbor Ventures is a venture capital firm investing in early stage companies at the intersection of financial services, data and digital commerce, through partnering with founders, accelerating the growth of next gen fintech…
Venture capital firm ZhenFund has participated in the $1.7-million seed round of video editing platform Kapwing while Hong Kong-based Arbor Ventures has joined the $6-million Series A round of US-based globaliD.
Paidy, a fintech startup that enables Japanese consumers to shop online without using a credit card, announced today that it has raised a $55 million Series C. The round was led by Japanese trade conglomerate Itochu Corporation, with participation from Goldman Sachs.
Bitcoin payment startup Abra has announced the addition of Visa and Mastercard payment options for buying bitcoin on its platform.
During a panel discussion with Village Global’s Erik Torenberg and Arbor Ventures’ Melissa Guzy, the Ethereum Foundation’s co-founder Lubin said that we are now moving into “phase two” of blockchain systems, “where we will see real scalability”.
Commercial insurance data company, Planck Re, announced today that it has raised $12 million to generate insights that streamline the commercial underwriting process. This means insurers will be able to instantly and accurately underwrite any policy.
Planck Re announces their first funding round of $12M to empower commercial insurers by generating insights that streamline the commercial underwriting process – enabling insurers to instantly and accurately underwrite any policy. The round was led by Arbor Ventures and includes Viola FinTech and Eight Roads.
Arbor Ventures is a venture capital investor based in Hong Kong, with an additional presence in Shanghai, Tokyo, and Tel Aviv. Arbor participated in series A and series B rounds for Abra, a digital wallet startup based in Mountain View.
Today, Fundbox, the small business growth company, announced that the company has won the coveted Israeli Atlas Award for Best Fintech Start-Up.
The course finder is hosted on Quottly, a San Francisco-based startup that dubs itself a “Kayak for college courses.” Quottly was founded in 2015 and claims to host more than 2 million transferable online courses from 700 colleges.
Today Fundbox, a leader in credit and payments for small businesses serving other businesses (SMB2B), announced that it has been selected as winner of the “Best Overall Business Lending Company” award by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global FinTech market today.
“The best advice I can offer anyone, so they will be highly successful in business this year, is to remain committed to why your customers originally engaged with your business. Don’t forget that your business data is your most precious asset; and should be treated that way. It is also important to never forget that you have a duty to your customers to protect that data…data that they entrust you with.” – Adam Rogas
Today, Fundbox, the small business growth company, announced an integration with Eventbrite that gives event creators across the United States access to Fundbox’s credit solution.
Karmic Labs, Inc., is thrilled to share the news that the company has been named the winner of a Gold Stevie® Award in the Company of the Year – Financial Services – Small Business category, and a Silver Stevie® Award in the Financial Services – Banking category in The 16th Annual American Business Awards® today.
Today, Silot announced a pre-series A round worth US$2.87 million from fintech-oriented fund Arbor Ventures and Eight Roads Ventures.
Silot Pte. Ltd. (known as Silot) announced today its successful completion of pre-series A funding. Silot has raised 2.87 million USD from Arbor Ventures and Eight Roads Ventures. This funding follows just nine months after its initial seed funding from ZhenFund, which marked the angle investor’s first investment in to Southeast Asia.
Abra CEO Bill Barhydt told Business Insider: “I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”
Startups, said Samet, have a unique opportunity as banks and other incumbent financial services are moving out of “niche services,” leaving consumer gaps for younger players—especially those with AI and machine learning technology skills—to fill.
Stockpile, a website that lets people buy stock in the form of gift cards and purchase fractional shares in companies, is fielding a growing number of emails from customers asking when they can buy shares in music streaming service Spotify and software developer Dropbox, said Avi Lele, the start-up’s CEO.
Abra CEO Bill Barhydt on creating an app that allows people to invest in 20 cryptocurrencies and 50 fiat currencies through the use of bitcoin and litecoin.
LATTICE80 collaborated with the team over at Fintech Asia to bring together a more exhaustive list of Fintech influencers you need to know about in the region.
Abra users can exchange across any currency with no deposit or exchange transaction fees, at any time with no limitations.
According to Crunchbase Data, $28 billion has been funneled into 3,609 rounds for US-based seed, early and late-stage FinTech related startups since January 2008.
Abra, a global currency wallet that was the belle of the early Bitcoin ball, has just added 20 cryptocurrencies and 50 fiat currencies, a feature that allows you to top up and send cash and cryptocurrencies from inside the wallet.
Today, Abra announced support for 20 cryptocurrencies and 50 fiat currencies in a new version of our mobile app that includes a real-time exchange service across all 70 currencies. Users around the world can now buy, sell or store any of these 70 currencies within the Abra app and exchange between them at any time with no limitations. Abra is now the only all-in-one smartphone app in the world with these capabilities.
The problem is growing as the use of e-commerce itself evolves, according to Harshul Sanghi, managing partner of American Express Ventures, the strategic investment group of American Express, which announced Tuesday that it is investing in EverCompliant, a startup intent on stamping out e-commerce-related money laundering.
EverCompliant, the pioneer of Electronic Money Laundering Detection and Prevention (also known as Transaction Laundering), announced a strategic investment from American Express Ventures, which joins existing investors Arbor Ventures, Carmel Ventures, StarFarm Ventures and Nyca Partners.
According to Crunchbase Data, $28 billion has been funneled into 3,609 rounds for US-based seed, early and late-stage FinTech related startups since January 2008.
The SXSW EDU Conference & Festival named Quottly as the winner of the 2018 SXSW EDU Launch startup competition. Following a day of pitches from this year’s ten finalists, the announcement was made at the Launch party, presented by the Walton Family Foundation, in Austin, Texas.
Data-Driven Small Business Lender Launches Next Generation Credit Algorithm by Leveraging Real-Time Customer Data to Optimize Credit Decisions
Forter, the first e-commerce fraud prevention company to provide approve or decline decisions for all online transactions in real time while completely protecting merchants with a full chargeback guarantee, today announced the launch of its End-to-End Identity-based Fraud Protection solution. The new offering makes Forter the only company to go beyond transactions and chargeback coverage to protect every stage of the consumer lifecycle.
Founded by two female partners, Arbor Ventures says disruptive technologies investing needs multilateral thinking.
Its machine learning fraud prevention technology, tweaked for each merchant’s risk profile, monitors thousands of data points around an online transaction, including buyer behavior and geolocation, to decide instantaneously whether to decline a sale.
Here are our top 100 people to know in 2018: pioneers who are leading the charge to improve identity.
A partnership was announced today between Isracard, the largest credit card company in Israel, and Forter, the largest global real-time fraud decisioning solution. The partnership is part of a new initiative designed to enable Israeli merchants to reach a global audience online.
We live in interesting times: the largest single community is Facebook with two billion daily active users; the largest consumer bank is WeChat, with nearly 800 million customers, and where over 1 billion shoppers will be responsible for over $1 trillion in cross border e-commerce transactions by 2020.
NS8, the eCommerce fraud prevention solutions company, announced today that it has raised $7.5 million in Series Seed round funding. Arbor Ventures led the round of financing followed by existing investors TDF Ventures and Hanna Ventures.
Bob, the HR platform bringing simplicity to business management, today announced the launch of their benefits product for small-to-medium business clients. This offering enhances their cloud-based platform Bob, that businesses are already using to manage their HR needs from one centralized platform.
Forter, the first e-commerce fraud prevention company to provide approve or decline decisions for all online transactions in real time while completely protecting merchants with a full chargeback guarantee, today announced the launch of its End-to-End Identity-based Fraud Protection solution.
TrueAccord, the company driving transformation in the debt collection market, announced today that is has closed $22M in additional funding. Arbor Ventures led the round, with participation from existing and new investors including Nyca Investment Partnership, Assurant Growth Investing, Caffeinated Capital Fund, Felicis Venture, TenOneTen and Crystal Towers.
US and Philippines-based bitcoin startup Abra has raised $16 million in a Series B round led by new investor HCM International, Foxconn’s venture subsidiary. The round was joined by Silver8 Capital, Ignia and return Abra backers – Arbor Ventures, American Express Ventures, Jungle Ventures, Lehrer Hippeau and RRE, according to the company blog.
Stockpile, a brokerage popular with millennials that is pioneering fractional share stock investing, announced today that it has raised $30 million in Series B funding led by Fidelity backed Eight Roads Ventures, with participation by Mayfield, Arbor Ventures, Hanna Ventures, Wang Ventures, and others.
San Francisco-based Karmic, a provider of payment and expense management solutions, has raised $17.2 million in Series B financing, according to a blog post. The investors included Alsop Louie Partners, Arbor Ventures, Greycroft, Marketplace Funds and Startup Capital Ventures. In addition to the funding, Wei Hopeman and Jim Whims have joined Karmic’s board of directors.